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The Real Estate Services (RES) Update is designed to keep diversified real estate firms and their agents informed about issues impacting their businesses. This monthly newsletter includes legislative and regulatory updates, news on industry trends, and the latest information on NAR activities as they affect diversified real estate firms.

NAR Submits Comments on FHFA Securitization Platform

December 14, 2012: 

Earlier this year, the Federal Housing Finance Agency (FHFA, the conservator of Fannie Mae and Freddie Mac (the GSEs) released a white paper on the creation of a common secondary market securitization platform to begin the process of GSE Reform.

CFPB Follows NAR Advice on Consumer Testing of RESPA/TILA Forms

December 14, 2012: 

On Thursday, Dec. 13, 2012, The Consumer Financial Protection Bureau (CFPB) announced its proposed policy to allow companies to test new consumer disclosures on a case-by-case basis.

Senate Banking Committee Holds Hearing on FHA Audit

December 7, 2012: 

Last week, the Senate Banking Committee held a hearing entitled, "Oversight of FHA:  Examining HUD's Response to Fiscal Challenges".

House of Representatives Holds a Joint Hearing on Basel III Capital Standards

December 7, 2012: 

The House Subcommittee on Financial Institutions and Consumer Credit and the House Subcommittee on Insurance, Housing and Community Opportunity held a joint subcommittee hearing on “Examining the Impact of the Proposed Rules to Implement Basel III Capital Standards.”

FHA FY 12 Audit Published

November 16, 2012: 

FHA released their Annual Report to Congress and the Actuarial Review of the 2012 Financial Status of the FHA Mutual Mortgage Insurance Fund.

Basel III Implementation Delayed

November 16, 2012: 

On Nov. 9, 2012, the Federal Reserve Board, the OCC, and the FDIC announced that proposed rules to implement the Basel III regulatory capital accords will not take effect on Jan. 1, 2013.

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